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on the fiscal cliff. let's bring in republican strategist. -- let's bring in a republican strategist. welcome back. >> good to be here. stuart: it looks like the republicans will get quite a bit of the blame regardless of whether we get a deal, no deal, or whether we go over the cliff. i think you will probably agree that short-term they get the blame. how about long-term >> look, this is obama's game. his game is he needs someone to blame. he had bush in his first term. now he's got the fiscal cliff. blame the republicans. and the truth is, in the short-term, the g.o.p. gets the blame. and they deserve it a little bit. but in the long-term, things change. stuart: you are a republican strategist. why do you say that republicans deserve some of the blame short-term? >> well, they deserve it the same way everyone in washington deserves it. no one in washington is incentiveized to think about the long-term. everyone is thinking about the short-term. by the way we see this in the private sector as well where companies think about, you know, the next quarter and never think about the long-term. th
-called fiscal cliff. short-term will hurt the republicans, undeniably. long-term, it will hurt the democrats and president obama. dennis: i thought all along that the republicans would look horrible. now, i'm wondering if it is switching the other way. a family earning only $20,000 a year will see that their tax refund gets cut in half if we go off the cliff. >> i think you are right. especially since we have not had the follow-through, dennis. what is the reason for all of this? where are we heading? the president, nor the republicans have answered that question. dennis: thank you for being with us. dagen: chicago mayor is renewing a plan to privatize the cities i second biggest airport. jeff: this was the world's busiest airport from 1948 to 1961. now it is just three big airlines that call this home. southwest, frontier and delta. it is still a huge cash generator for the city. he famously had a deal to privatize the city's parking meters and the problem is, they took all the money they had and spent it already. mayor manuel is under some scrutiny. as i said, both are choosing to do so. t
in the fight over the fiscal cliff as the number two republican in the senate moments ago said there could potentially be a bill ready for the floor, but after lawmakers turned down several different plans to avoid potential tax hikes for every american what do we know about this possible bill? not much, and may be more importantly if it passes, what does it mean for your wallet on january 1st, that is if we fall off the cliff. matt mccall is president of penn financial group llc. the irs is today notifying employers on how much they will have to withhold from their employees' checks. let's go through each and every one of these tax increases if there is no deal, and we dive off the cliff. let's begin with the first one. marginal income tax rates ric rice for nearly everybody in america. >> over 90% of americans will be hit with higher taxes, and everybody talks about the wealthy getting hit the hardest. what i find fascinating is two-thirds of americans that make less than $20,000 a year will get hit with higher tax rates which will equal a gain of close to $600 more per year in taxes. if
the darn thing was d.o.a. in the senate i? way. the republicans are losing the debate on the fiscal cliff. this is obama's economy. let the president and the democrats own it and own the national debt. own the defense cut. instead, boehner and the gang allow the president to star in his own superhero film. he will cut the hawaiian vacation short and come back to save us mere mortal from the fiscal cliff. winning the optics war and winning it big. juan, how did you get the ball back from the republicans? they had it. this was obama's economy, his face calf cliff. now boehner fails on the vote and next thing you know, the ball is in your court. >> juan: i think you are right. i think boehner at the moment looking weaker. he is out of this altogether at the moment. his troops abandoned him. he is okay keeping the speaker on january 3 when the republican caucus vote but you are hearing rumors about eric cantor who is next to him launching some kind of a coop at the moment. i don't know where it goes. but it seems that he is in a position where the republicans in the senate and the white house
. the republicans are losing the debate on the fiscal cliff. this is obama's economy. let the president and the democrats own it and own the national debt. own the defense cut. instead, boehner and the gang allow the president to star in his own superhero film. he will cut the hawaiian vacation short and come back to save us mere mortal from the fiscal cliff. winning the optics war and winning it big. juan, how did you get the ball back from the republicans? they had it. this was obama's economy, his face calf cliff. now boehner fails on the vote and next thing you know, the ball is in your court. >> juan: i think you are right. i think boehner at the moment looking weaker. he is out of this altogether at the moment. his troops abandoned him. he is okay keeping the speaker on january 3 when the republican caucus vote but you are hearing rumors about eric cantor who is next to him launching some kind of a coop at the moment. i don't know where it goes. but it seems that he is in a position where the republicans in the senate and the white house are really the ones who will negotiate the
as part of the overall deal here on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series securities. so already, they are doing some maneuvering here financially to try to avoid that debtly limit. the treasury secretary says he doesn't know how much wiggle room they are going to have, given that all the fiscal cliff uncertainty is out there. >> eamon, on this idea that the house members get called back with 48 hours' notice. traders are looking for that headline if it happens almost that bleed out there or procedural moment where that is announced, so to speak? >> a good question. i have been in touch with republican leadership about that today. what they
fiscal cliff. two republican senators on the sunday talk shows yesterday say they agree with the president's position that both sides should avoid tax hikes on middle-class americans. also, nra executive said the group would not support any new gun laws in this country. good morning this monday, december 24, 2012. we will begin this morning with your thoughts on religion and politics. as a religion influence your political decisions? also send us your tweet if you go to twitter.com -- we will begin with the sunday review section of the "the new york times" yesterday. we want to get your take on this. it does religion influence your politics? with more people saying they are unaffiliated. we want to get your take. here are some comments from facebook this morning. what are your thoughts on this december 24, 2012. it does religion influence your politics? let me show you this from "the new york times" this morning. a new poll out worldwide religion shows up that one out of six follows no religion. that is worldwide. all religions outside the united states as well. the upi
, republicans in congress tackle fiscal cliff. the most visible former elected official in the tea party and, of course, chairman of freedom works tried to oust several freedom works officials this fall. in fact, according to the post, army thieves control momentarily of the group. and he brought a gun carrying aide to remove rivals within the organization. but within a week, army was out. freedom works arranged an $8 million pay page for him. $8 million. that is more than the organization's entire annual budget in some years. over in the house, several tea party allies were recently stripped of their committee assignments by speaker boehner. so there are some problems there at the top. an influential conservative is lashing out. >> the tea party is going of to look at itself. it's been so helpful to the republican party in the past. it saved i by not going third party in 2010, helping the republicans sweep the house. but the tea party style of rage is not one that wins over convertes and makes people lean toward them and say, i want to listen to you. >> so there is some real trouble there f
: it depends on how we get there. if we have a fiscal cliff deal, the kind the republicans were pushing through last week, it was really no government spending cuts for two years. additional revenue that would be raised was not very much. that would not cause a recession. however, if we got a deal where the president got $100 billion in additional taxes from upper income people and he got $100 billion in the immediate spending cuts as the republicans would want to match it, subtracting $2 billion it is a little over 1% of gdp. that would push us into a mild recession. unemployment was start to creep up. if we got the bigger than that, $300 billion in spending cuts and tax increases, that we would have a severe recession of the kind from which the economy could not easily recover. host: first call is lydia. caller: i had a question for the doctor morici. over the last four years, everything the president has tried to propose to get the country back to work, jobs he has proposed, the infrastructure and jobs programs, the republicans have a filibuster. they took an oath before he was sworn in to d
leaving his vacation in hawaii. he has important talks scheduled to avert the fiscal cliff. >>> as we showed you, the senate is back in session. they are hoping to strike a deal and avoid the fiscal cliff. we are in washington where some republicans are pessimistic an agreement can be reached. >> reporter: the senate majority leader is on the floor right now. we will take a live look at the capitol. he is trying to get republican support for the latest democratic plan. they got back to work about 15 minutes ago and are considering the president's offer to raise taxes on households making $400,000 or more a year. even if it passes the senate he is concerned about the house where he will need about 30 republicans to cross party lines. the house speaker said he is not making members of the house come back from their break without a 48 hour notice on a vote. in the last -- >> american people i don't think understand the house is operating without the house of house. its being operated with a dictatorship of the speaker. >> reporter: on top of this the treasurey department said the unite
republican support to pass it, the speaker abdicated his role in the fiscal cliff talks. he said it was up to the u.s. senate and the white house to do something. the sad reality is that boehner is leading a dysfunctional caucus with a vocal minority of tea partiers who can hold up the chances for any deal. today harry reid accused boehner of caring more about his re-election as speaker than getting something done. take a listen. >> the american people i don't think understand the house of representatives is operating without the house of representatives. it's being operated with a dictatorship of the speaker. john boehner seems to care more about keeping his speakership than keeping the nation on firm financial footing. >> what is boehner's game plan? does he even have one? ryan grim is washington bureau chief for "the huffington post," and glen johnson is politics editor for boston.com. i worked on the hill for years. you cover the hill and know it. that was a very personal shot from harry reid. is it accurate to say, open question, that speaker boehner is worried about staying speaker?
obvious. the prospect of reaching a deal to avoid the fiscal cliff before january 1st is very unlikely. that's putting it lightly. let's watch. >> there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. the speaker just has a few days left to change his mind, but i have to be very honest, mr. president, i don't know timewise how it can happen now. >> well, that was plain. this afternoon senate minority leader mitch mcconnell said he wasn't willing to offer the white house a blank check just because we're on the edge of the cliff. take a look. >> last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> well, actually it's not a blank check the president has been pushing. and this i
the road. let's go to louann on the republican line. caller: to me, the fiscal cliff is a small smokescreen. the fiscal cliff that is coming is obamacare. nobody is addressing obamacare. i have to find out friday will be taxed 2.3% on any device used on us in any of the medical fields. my husband's doctor wrote out a prescription for a blood drop for january. he said i do not know how much this will cost you out of pocket because of obamacare. my husband is over 70. he said he did not know how much longer he would be able to help him because of obamacare. this is a smokescreen. when people find out we will be taxed on medical devices, even our vet bills will be going up, this thing is a joke. the liberals will be hit just as hard as republicans. the tea party warned you this would happen. host: let's give the guys a chance to comment on the health care law and its place in this debate. guest: is not part of the fiscal cliff. there is a tax increase going into effect because of the health reform act. it is not considered part of the fiscal cliff. in terms of immediate damage to the economy,
cliff, and democrat chuck schumer yesterday said the real problem is that republicans won't admit the president won the election and that tax rates are going up. take a listen. >> on taxes, i know it's hard for the republicans, but the president ran on that platform, 250, no tax increase for people below, but taxes for people above, he won 60% of the voters said they were for it in the exit polls, including some republicans. >> reporter: all eyes now turning to the possibility since speaker john boehner was not able to get enough republican votes to move forward with a plan late last week, that maybe now the senate will have to workout a compromise between harry reid, mitch mcconnell the democratic and republican leaders, and the president who is here in hawaii when you talk to his staff they say it's very likely some time after spending christmas with his family, whether it's the middle or later part of this week he's likely to head back to washington to sit down with congressional leaders and try to work this out. >> reporter: it's a bit encouraging for a lot of folks who were w
. and republicans are losing the debate on the fiscal cliff. they should be saying this. this is obama's economy. let the president and the democrats own it, lets them own the massive exploding national debt, let them own the tax hikes, let them own the defense cuts. instead boehner and the gaining are letth president to star his own superhero film. he's going to come back in and save us from the fiscal cliff while others are puffing marlboros. winning the optics war and winning it big. juan, how do you get the ball back from the democrats? they had it. next thing you know, the ball is in your court. >> i'm going to have to upset you, my friend. i think you are right. i think boehner is at the moment looking weaker. he's out of the talks all together at the moment. no role to play. his own troops have abandoned him. i'm told he's okay of keeping the speaker ship on january 3rd when they vote but you start to hear rumors about eric cantor who you see next to him possibly launching some kind of -- but it seems to me he's in a position the republicans in the senate and the white house are really
that the public would blame republicans more -- patti ann: right. >> -- if this whole fiscal cliff disaster happens. patti ann: now how was it spun this way? there's a lot more being negotiated than just those tax rates for wealthy people. what about the fact that we have the $16 trillion debt, and these plans hardly do anything to address it? why is that not the focus? >> yeah, they do almost nothing to address it. even if the president got what he wanted in taxes which is raising taxes on americans who make above $250,000 a year, i think it would be about $850 billion over the next ten years, it wouldn't even be one year's deficit. so there, i mean, there are a lot of other things involved. republicans have demanded real spending cuts, mostly spending cuts in the entitlement programs. and what we've seen in the past few weeks is as that has been discussed among democrats, there's been a hardening of opinion that they really do not want to make any cuts or any trims really in any of the big entitlement programs, medicare, medicaid and social security. patti ann: all right. well, byron york
. if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes and we're then going to have some tough negotiation necessary terms of how we continue to reduce the deficit, grow the economy, create -- >> but this fight comes back. now, i want to ask you specifically about entitlements, medicare and social security. are you prepared in the first year of your second term to significantly reform those two programs, to go beyond the cuts you've suggested to benefits in medicare, that your own dead commission suggested you would have to do if you were going to shore up medicare at least? are you prepared to do that in your first year of a second term? >> what i've said is i am prepared to do everything i can to make sure that medicare and social security are there not just for this generation and for future generations. >> you have to talk tough to seniors. >> i already have. one of the proposals we made is something called change cpi which basically makes an adjustment in terms of how inflation is calculated on social security, highly unpopular among
also been at the hospital. >>> they are going to have high level talks regarding the fiscal cliff. here is more from washington d.c. >> reporter: senate for harry reid is trying to get republicans on board with the president's latest offer including raising taxes on those making 400,000 a year not 250,000. senator harry reid will pass this plan and does not want to put it to a vote unless he knows it will pass the housement they want to avoid fitting the call. house speaker john boehner held a meeting with fellow gop leaders and said he would give them 48 hours before calling them back from their holiday vacation meaning saturday is the earliest time a fiscal vote could take place on this deal. treasury secretary tim geithner said the united states will hit the debt ceiling on monday unless he takes extraordinary measures. they believe it could force congress to come up with a deal before monday's deadline but some republicans are not as optimistic. live in washington, ktvu channel 2 morning news. >>> they set $2 billion for unit who made her first court appearance. she was drunk when s
house to avoid the fiscal cliff. president obama and congress it will be thursday before talks resume to try and prevent automatic tax hikes and spending cuts from taking effect january first. andrew spencer has the latest. >> some republican lawmakers say old, once the country to fall off the physical cliff. >> we have gone over the cliff now, later, the fiscal cliff-you cannot negotiate with some of that does not want to negotiate. >> john boehner failed to get enough votes were planned beat that would raise taxes for people earning more than $1 million. the speaker, and the president left town without making a deal. >> i have passed leaders of congress to work together to create a deal to protect and employment for 2 million americans, protect middle america the middle income americans and also work on deficit reduction. >> the president solution would still leave red ink as far as the eye could see. and difficult for jobs. >> this is it difficult for the brink of perpetual gridlock. >> this is likely that we will go over the fiscal cliff and not and if we allow that to happen. wou
the republican john boehner for the stall in talks on fiscal cliff. dana bash is our congressional correspondent. it just seems like this is the blame game. the house speaker would blame the president, the senate majority leader would blame the house speaker. who is to blame in all this? >> everybody is, carol. it's the blame game. i'm a little surprised at how personal harry reid just got in going after the speaker. it is true that things have clearly broken down, that goes without saying, and that the democrats were not happy that maybe a week and a half ago the speaker pulled out of talks with the president after they had reached a pretty good amount of progress. but the fact that he called the speaker a dictator and in the next breath said he's worried about his job, it's a little contradictory, but very personal. let me give you a little bit of a reality check. that is it is true that the house is not in session. they will come in quickly at 2:00 in a pro formal way and house republican leaders have told members they will give them 48-hours notice and that hasn't happened yet. but senator r
're keeping our eye on the senate back in session with the fiscal cliff talks now down to the wire. the big question is even if the senate reaches a deal as they continue the debate will republicans pass anything with tax hikes in the house? up next republican congressman tom cole. and baby makes three. kim kardashian and kanye west's big baby announcement. also, sydney, australia celebrating the new year just three hours ago with fireworks over the famous opera house. in new york city, an already crowded times square. people waking up there. our big question what is your new year's resolution for 2013? tweet me at richard lui. we'll share some of your comments later. >>> a live look at the markets which appear to be taking going over the fiscal cliff in stride. many people say it is built into the market. many investors are still confident leaders will strike some sort of deal as talks go down to the wire and even if they don't they are counting on senate majority leader harry reid to present a backup proposal to limit some of the damage. we're watching live pictures on the right-hand side
together to make something happen. host: you think the fiscal cliff debate is a good sign for the country? caller: absolutely, it is a good sign for the country. you know, america does not need money. america is money. america needs jobs. what kind of jobs? american jobs. what is on american jobs? to do the best and to bring the best things. that is the mayor, -- the america that i see. i seek some unity. i travel around the world. i see some the young americans everywhere. they become the best. host: from manitoba, canada, thank you so much for calling in. a few other stories we want to run through for you -- we will continue this discussion into the next segment. here is the story on federal workers getting a pay raise -- another story at what point you to, this from "the new york times" -- one other story i wanted to point out this morning, this from the new york daily news -- that is from the daily news this morning. i want to get one more call from walker from arizona, the democratic line. walter, what is your message to congress? caller: good morning. thank you for the opportunity t
in my view. and this one, we could solve this fiscal cliff and budget problems more than congress. this is the type of frustration that people are venting today. a few more of the tweets. this one from randy christian lee, and our founding fathers are turning over in their graves. come 2013, things will never be the same in this country. if we go over the cliff, it is not overnight or massive and drastic, so don't worry about the of night fears. here are a couple more. stop blaming the politicians, but the voters who put them all in and expected a different result than the last four years. that is from marc on twitter. one more, lou from congress, big bunch of babies and waiting for the last minute to look like a hero and continual joke. i will tell you that we are hearing from a lot of people, and martin, no doubt that what people are saying is resonating all over the country, and a lot of people are sharing the frustration. vent and send us your ireports to ireport.com and join the discussions on facebook and twitter to josh levs@cnn and if you think we should go over the cliff,
in days. >> washington remains in the same fiscal cliff clitalks. >> reporter: senator leader harry reid and john boehner are both frosty saying it's in the other guy's court saying to avert the largest tax hike in history and reid saying it's time for house republicans to put middle class families first. >> if we go past no deal, the markets are likely to decline in a significant way and involve most americans and they don't want to have themselves blamed for that. >> reporter: already stocks have dropped three days in a row over fiscal cliff fears. from wall street to main street, it is building. >> both parties to are to blame if they don't come up with something. >> we are really in what amounts to a fiscally irresponsible position trying to please everyone and please no one at all. >> reporter: even starbucks tries to hand out advice writing "come together" on every cup. >> reporter: washington could use a warm cup of coffee on a morning like this. complica complicating conversations going forward. treasury secretary, timothy geithner says on the 31st, the u.s. will hit the credit c
from both parties to the white house today as a last ditch effort to avoid the fiscal cliff. he cut short his hawaii vacation to return to washington and coming up, signs that president obama maybe reaching out to another republican leader after his negotiations with house speaker john boehner did not result in a deal. >> well, traffic don't in downtown san francisco could grind to a halt. that's because today is the last scheduled critical mass event for the year. for those new to the area, on the last friday of every month, dozens of cyclists ride alightning the waterfront and down market street and drivers are always advised to expect delays. >> peeking of, we haven't really seen any this morning. let's go to tara and see if that changed. >> no, the same story. maybe a lot of folks headed up to the tahoe area. maybe they already left as a matter of fact because the skiing is going to be pretty good up there. right now i want to show you my maps so you can see exactly what i'm talking about up here. the roadways are completely clear and in livermore the same story. overall a very
is not favorable to republicans at this moment about the fiscal cliff and the markets out there again could be very, very harsh if there is no deal. so i don't know about christmas cheer but i think there are certain political realities that say there's got to be something done, even if it's a temporary patch that allows them to say we're going to have the big vote in terms of the cuts and tax hikes and reform, you know, in a few weeks. but they have got to do something in the short term or they're going to be dire consequences. i don't think that is any hyperbole, kelly, it is just the truth. kelly: just the truth. bottom line so i let you go, what is your next guess, deal or no deal? >> i think they get some kind of deal. it may pass the january 1st, december 31st deadline to get the house vote but i think you will see something done. kelly: maybe a pared down version but something will get done. kelly, have a happy holiday. >> you too, juan. jamie: the taliban is claiming responsibility for a homicide car bombing in khost. it is at the very same base where seven cia employees were killed three y
going over the fiscal cliff. i'll have more on that in my next update. live in washington kyla campbell ktvu channel 2 news. >>> analysts say if the country goes over the fiscal shift it could send the economy back if into a recession. >>> secretary of state hillary clinton is expected to return to work next week. a specksman for clinton says she continues to recooperate at home. doctors say clinton contracted a stomach virus earlier this month and became dehydrated and fainted. >>> the sonoma county sheriffs office will continue its search today for a possible plane crash. an eyewitness reported seeing smoke coming from a distressed aircraft in the hills. search crews combed that area but have found nothing. >>> the military is investigating a fighter jet that went down near fresno know. the plane crashed during a routine training mission yesterday afternoon. that about 100 east of fresno. the jet was flying between 12,000 own 15,000 feet at the time of the emergency. and the pilot ejected safely. >> there are no new one. >> no one was hurt on the ground. >>> time now 5:14. the city of
are out there struggling and certainly they deserve congress that will avoid going over the fiscal cliff. which is why the president has been working to bring the leaders together. >> the way our system is supposed to work is the president is supposed to make a proposal and go across the country persuading the american people he is right. finos how to do that. then he sits down with us and we complain and adjust and amend it and bring it up on the floor and vote on it and pass it and get it resolved. that is what is supposed to happen and it can't start until the president make the proposal. rich: lawmakers are waiting to see how the meeting shapes up next hour and so are we. neil: john boehner can deliver his caucus without spending cuts and democrats can't come to the table must -- my hand a doing this, republicans agreed to tax increases. we are going over the cliff and that might be what both sides want. >> the possible scenario where if the market reacts negatively lawmakers would feel the rush to pass something else. it became clear after john boehner put on the table keeping tax r
. >> charles? >> well, you know, there are two events that will happen january 1. one is the fiscal cliff, which i still think is likely, likely we will go over. maybe 60% chance. there could belag-minute proposal if obama is somewhat generous, not as arrogant and offers something that a small number of republicans in the house could support. there is a scenario where you wouldn't go over the cliff. he proposes a slight compromise on the level at which you get the higher taxes, $400,000. extension of unemployment stops with that. essentially. then if boehner were to allow a free open vote, then you could get 180 democrats plus 30 republicans. it could happen. >> doug: voila. >> that is the only scenario. possible one. >> doug: sounds so easy. >> yeah. a lot of this stuff is in principle easy. remember, obama was never interested in solving the fiscal issues. he wanted to break the republicans. he did. there is no civil war on the republican side that makes him sovereign in washington. a great political achievement. the other event is the debt ceiling. happening on january 1. the delicious
-called fiscal cliff, if we get to january 1st and no deal, i think there's a universal expectation that for 98% of the country, the income tax thing addressed within a week or two. neither democrats or republicans let that go completely. the amt is fixed basically every year. that's going to be fixed eventually. it looks like looking at the reports of the offer that obama is supposedly making this afternoon, going to tell republicans, yeah, you win on the estate tax if you take the offer and only thing talking about is the payroll tax. that's already obama apparently gave up on it two weeks ago and gone no matter what and only the refundables. >> yep. >> you're talking about hugely important to the working poor but for the vast majority of the country, it's almost ir el vant. we are just -- >> they aren't tax credits and what you fill out when you fill out your taxes which won't happen until 2014. if they're in effect, it costs the average family an extra $3,400 or so but in the first week, two weeks, actually, costs the average family about $40 and that's the payroll tax and if it's in effect
president engaged in "serious overnight negotiations to avert the fiscal cliff, making major progress to a year-end tax deal, giving seven hoped to buy stakes than had been on the brink of collapse over the last couple days. guest: i think they may be able to pull something off in the senate. i think they're working together. that's a good first step. i'm really concerned and what they end up coming up with will make the deficit situation worse. that would be ok in the short run, if they had a plan to make the deficit situation better in a longer-term. i only hope they are talking about serious measures that would actually make medium and long-term improvements. but i'm really worried they're not. i'm worried this will be a bipartisan throwing the tough choices to the side and extending things people want to make sure not to him republics without asking any of us to be part of fixing the problem. what we really need is to see some real choices. host: senator joe manchin of west virginia had this to say on the senate floor. [video clip] >> something has gone terribly wrong when the big
republicans who are willing to compromise in order to avoid the fiscal cliff. including kay bailey hutchison of texas and johnny isakson of georgia. >> time is running out. and the truth of the matter is, if we do fall off the cliff after the president's maturitied, he'll come back, propose just what he proposed yesterday in leaving washington and we'll end up adopting it. why should we put the markets mn such turmoil and the people in misunderstanding or lack of confidence? why don't we go ahead and act now? >> the president is insisting tacks go up for the wealthy, but he's now scaled back his expectations for the rest of the year focusing only on a middle class tax cut and extended unemployment benefits. he said he still thinks some kind of deal can be reached, but that optimism is not shared by everyone. >> in the aftermath of the house republicans rejecting speaker boehner's so-called plan b, it's the first time that i feel it's more likely that we will go over the cliff than not and that, if we allow that to happen, it will be the most colossal consequential act of congressional irresp
negotiations are looking better to avoid going over the fiscal cliff at 9:00 p.m. our time. as kyla cam billion reports from our washington, d.c. newsroom, there's still a gap on raising taxes. >> reporter: republicans and democrats both say these negotiations are moving forward. the house is back at work this hour and we expect to hear from the senate when they start their day in about 45 minutes everyone the big et problem that needs to be -- biggest problem that needs to be solved is deciding who should pay more in taxes. democrats offered to raise taxes on households making $450,000. republicans were still hoping for the $550,000. but republicans dropped their demand to cut social security benefits. at that point, joe biden and mitch mcconnell took over negotiations. the two worked together in the senate for 23 years and have a strong history of finding compromise. >> i think there's some good news. the conversations continued late into the night last night. i think now there is a better than 50/50 chance that we will avoid the fiscal cliff by midnight tonight. >> reporter: if the senate co
down and asking themselves why they let the democrats define the rules of debate on the fiscal cliff. the house should have passed a bill saying you cannot use money for medicare to finance obamacare. the plan to finance obamacare and the house should have passed a bill on that. or how about passing a bill that any reform of entitlements -- medicare and social security -- cannot involve taking away benefits from those on the system today and those about to go on the system. you can make good reforms to young people. they should have passed a tax simplification bill. host: next call comes from john in pennsylvania, republican line. caller: good morning. president eisenhower, the rate for the top taxpayers never went below 91%. now we cannot seem to get it up to 39%. in 2001, we had the largest budget surplus ever. 10 years later it would have the largest deficit ever. in 2001, we had $5 trillion in debt. we gained $10 trillion in debt in less than 10 years. $5 chilean was because of the bush tax cuts -- $5 trillion was because of the bush tax cuts. guest: there were numerous tax shelt
there is progress in the talks to avoid the fiscal cliff. we've heard this before and we are hours away from massive tax hikes and spending cuts set to kick in at midnight. republican senator lindseys joih all his thoughts on the matter. welcome, senator, great to have you here today. >> glad to be with you. uma: let's talk for a moment. we don't even have a deal yet and you're already conceding this is a victory for the president. why? >> it will be. i mean no republican wants to raise tax rates. in 2010 the president said we needed to extend all the bush tax cuts because the economy was week. in 2012 the last day he's pushing to raise tax rates. the economy is still weak. it's all politics, he won the election. he said he come pained on raising tax rates on americans who make mourn 250,000. at the end of the day he'll probably get that victory. it will be a hollow victory because raising tax rates is not going to help job creation and it's certainly not going to get us out of debt. here is the question i asked on "fox news sunday," what are you going to do with the machine, mr. president that come
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